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Medicare: Do I need to enroll if I'm still working?

Posted by Loy • Profile • 09/30/23 at 09:04PM • Health Insurance • Public Interest • See more by Loy

One of the most frequent questions I get about Medicare is “Do I need to sign up for Medicare when I turn 65 if I have employer group coverage?” And the answer is: It depends….

It depends on the size of the employer group and some other factors:
• Your cost for the coverage (including premium contribution and out of pocket expenses for deductibles, copays and your annual out of pocket maximum)
• If the employer plan benefits meet your needs (benefits, provider network)

NOTE: If your employer group is less than 20 employees, you should sign up for Medicare Part A and Part B when you are first eligible or face a lifetime late enrollment penalty. Your Initial Enrollment Period is a seven month window:

• 3 months prior to your 65th birthday,
• your birthday month and
• 3 months after your birthday month

With employer groups of less than 20 full time employees, Medicare is the primary payer and your employer group coverage pays secondary based on the benefit plan.

If your employer group is more than 20 employees, and offers medical and prescription drug coverage that is at least as good as Medicare (aka "creditable coverage"), you may not need to sign up for Medicare Part B right away. However, it's important to review the benefits and cost of your employer plan compared to the benefits and cost of Medicare plus a Supplement and drug plan or Medicare Advantage plan. In many cases, people save money by enrolling with Medicare.

There are several options for Medicare Advantage and Medicare Supplement plans available, and the key is determining which one will offer you the best coverage based on your healthcare needs, your lifestyle and your budget.

Medicare agents must be licensed in the state they sell products and must complete an annual certification and insurance company specific product training each year to assure they are qualified to help beneficiaries in making good choices. If you need assistance with your Medicare decisions, please contact me at 206-569-5415 or by email at suderloy@gmail.com. I am a licensed and certified health insurance agent in WA State and represent multiple health insurance companies. I can help you with your decision and enrollment for the plan that best meets your needs.

Medicare Annual Enrollment Period - Oct 15 - Dec 7

Posted by Suder Group, LLC • Profile • 10/20/21 at 06:00PM • Health Insurance • Profesional Services

The Annual Enrollment Period is the time to review your current Medicare Health Insurance to make sure you are on the plan that has the best coverage for you. I represent six insurance companies and they each have a variety of options available, many that include new benefits for 2022. If you have not reviewed your current plan to assure it is meeting your needs, now is the time to do that. I have been in the health insurance industry for many years and I would be happy to answer your questions and /or help you evaluate your health insurance needs to make sure you are enrolled with a plan that makes the most sense for you. Please call Loy Suderman at 206-569-5415 to get the help you need.

2021 Health Insurance - Individual and Family Plans

Posted by Suder Group, LLC • Profile • 12/16/20 at 07:15PM • Health Insurance

There is still time to enroll for individual health insurance! Washingtonians have until January 15th to get coverage starting February 1, 2021. The attached Newsletter has information about the health insurance companies, counties they serve, provider networks and tax subsidy/reduced rate info. Click the photo below to go to the Exchange and can create an account. For my assistance, go to Quick Links and "Find a Broker" and type "Suderman" in the last name field and confirm your request. I will then be notified so we can connect. There is no charge to you for this service.

Newsletter 2021 Open Enrollment Period.pdf

Missed Open Enrollment? WA extends deadline to January 15th!

Posted by Suder Group, LLC • Profile • 10/26/17 at 10:48PM • Health Insurance • Profesional Services

If you missed open enrollment for Individuals and Families for a January 1 coverage start date, you still have time to get coverage in place for February 1st. Washington State has extended open enrollment to January 15th for those who missed the December 15th deadline. January 15th is the absolute deadline unless you qualify for a Special Enrollment Period. If you need help and advice, contact an expert - Call Loy at 206-569-5415 or email Loy@Sudergroup.com. Get the help you need!

Medicare Annual Enrollment Period October 15 - December 7

Posted by Suder Group, LLC • Profile • 10/09/15 at 02:51PM • Health Insurance • Profesional Services

For those of you on Medicare, now is the time to review your current coverage and the new plan options to make sure you enroll in the best plan for you. A variety of new benefits have been added to Medicare Advantage plans such as hearing aids, travel to doctor appointments, meals after a hospital discharge, naturopathy/acupuncture and more; not all plans have added the same features. There are also some changes in premium and per service copays, depending on the plan you are on and the specific benefit.

When reviewing your current coverage or selecting a new plan, there are several factors to consider, such as provider network, pharmacy coverage (is your specific medication included in the plan formulary), out of pocket costs and limitations, premium and the service area, just to name a few.

I am a licensed agent, certified with several health plans representing multiple Medicare Advantage, Medicare Supplement and Part D Prescription Drug Plans in Washington and I can help you find the plan that best fits your unique needs.